Uber to send out tenders on SoftBank deal early next week -sources

Paresh Dave and Liana B. Baker

Published 3:04 PM ET Fri, 24 Nov 2017
Reuters

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SAN FRANCISCO/NEW YORK, Nov 24 (Reuters) - Uber Technologies Inc plans to move ahead with a deal to bring in Japanese technology company SoftBank Group Corp as a major investor by disclosing the terms early next week in formal tender offers to the ride-hailing service's investors, two people familiar with the plans said on Friday.

The move to start the tender next week follows Uber's disclosure on Tuesday that it covered up a 2016 data breach which compromised data of some 57 million customers and drivers. That revelation prompted governments around the world to launch probes into the breach and Uber's handling of the matter. (Reporting by Paresh Dave in San Francisco and Liana Baker in New York; Editing by Jim Finkle and Richard Chang)